METLEN buys NK Trailers in €10M Volos defense deal

Greek industrial group METLEN has acquired NK Trailers, a traditional manufacturing company based in the Volos Industrial Area, in a move that expands its rapidly growing defense and heavy-industry footprint in central Greece.

The transaction, announced on Jan. 12, values the acquisition at €10 million. METLEN also plans to spend an additional €30 million to €40 million on partial refurbishment and new equipment at the site.

The acquisition was made through M Technologies, METLEN’s defense and metal-construction division, which has been steadily building a cluster of factories in Volos aimed at serving both military and rail-industry demand.

An established plant with dual specialization

NK Trailers operates a dual industrial facility that has developed expertise in two distinct areas: defense systems and railway wagons. METLEN said the rail-equipment business will face increased production demands as railway networks, rolling stock and related systems are modernized.

The facility consists of two steel industrial buildings with a total surface area of about 26,900 square meters, located on two adjacent plots exceeding 47,000 square meters inside Volos’ Industrial Area B.

Volos hub expands beyond original targets

With the addition of NK Trailers, METLEN now operates six independent production units in Volos. At an investor presentation in London in April 2025, the company had said it planned to expand from two to five defense-related factories by the end of the decade.

The pace of expansion has been faster than initially outlined. METLEN has linked the Volos investment program to its broader strategy following its stock market listing in London, where it is now part of the FTSE 100 index.

At full development, the M Technologies Hub will include METLEN’s Nea Ionia plant in Volos, the Servisteel facility in the city’s main industrial zone, three additional standalone factories that have already been announced, and the newly acquired NK Trailers site.

The six factories are designed to support six different defense programs simultaneously.

Vassilis Tsiamis, chief executive director of M Technologies, said the new plant strengthens both the regional industrial base and Greece’s domestic defense capacity.

“The creation of the sixth production unit at METLEN’s M Technologies Hub in Volos significantly strengthens the region’s role as a center of heavy industry and defense production,” Tsiamis said. “At the same time, the expansion of our defense-systems capacity, driven by increased demand, contributes to the country’s defense readiness by increasing domestic value added, autonomy and reliability, at a time of heightened geopolitical and technological challenges.”

Financial and employment outlook

METLEN’s M Technologies division, which includes the Volos hub, forecasts that both revenue and operating profitability in 2026 will be double their 2025 levels, according to company projections.

The group has already started deploying capital for the required investments. Locally, the Volos hub is expected to employ about 1,000 skilled industrial workers once fully operational, with training and development programs planned for the workforce.

METLEN’s position in defense manufacturing

Through M Technologies, METLEN focuses on heavy and complex metal structures for defense and industrial use. Its products are supplied to clients across Europe, and the company works with international partners including IVECO Defence Vehicles, KNDS and Lockheed Martin.

The addition of NK Trailers further integrates a long-established Volos manufacturer into METLEN’s expanding industrial network, reinforcing the city’s role as a key production center for defense and rail-related equipment.

Source: tovima.com